YX Precious Metals Bhd, a wholesaler and manufacturer specialising in gold jewellery, reported an RM3.04 million net profit for its first quarter ended 31 March 2022.
The bottom line was achieved on the back of a revenue of RM60.73 million, of which 92.39% was contributed by the wholesale segment with the sales of 216,729g of gold jewellery, and the remaining 7.61% came from the design and manufacture segment.
YXPM is slated for listing on the ACE Market of Bursa Malaysia Securities Berhad on 23 June 2022. Based on the initial public offering price of RM0.28 and enlarged issued share capital of 372.15 million shares upon listing, the market capitalisation of YXPM works out to RM104.20 million.
Commenting on the results, YXPM Managing Director Ng Sheau Chyn said, “The commendable results in Q1FY2022 mark a strong start for the year and rest assured we will not rest on our laurels and will build on our growth momentum to reach greater heights. This IPO exercise will allow us to leverage the increased demand for gold jewellery by expanding our product portfolio to include a new range of hollow gold jewellery in the market.
Moving forward, we are optimistic of the company’s outlook as the overall economic condition is expected to recover amidst the nation transitioning into the endemic phase.”
